Zhimin Qian, 47, of no fixed address, led a large-scale fraud scheme in China with 128,000 victims
The “world’s largest” crypto seizure has been made after a woman defrauded hundreds of thousands of people online. Zhimin Qian, 47, of no fixed address, led a large-scale fraud scheme in China with 128,000 victims that saw her store illegally obtained funds in Bitcoin assets. Qian then fled China using false documents and entered the UK. She then attempted to launder the proceeds by purchasing property, with the assistance of an assailant, Jian Wen, in September 2018.
An inquiry was launched in 2018, after the Met seized 61,000 Bitcoin from the Chinese national, also known as Yadi Zhang. Qian pleaded guilty to acquiring criminal property, namely crypto-currency, and possessing criminal property, namely crypto-currency, at Southwark Crown Court on Monday, September 29, under the Proceeds of Crime Act 2002. Will Lyne, The Met’s Head of Economic and Cybercrime Command, said: “Today’s guilty plea marks the culmination of years of dedicated investigation by the Met’s Economic Crime teams and our partners.
“This is one of the largest money laundering cases in UK history and among the highest-value cryptocurrency cases globally. I am extremely proud of the team. Through a meticulous investigation and unprecedented cooperation with Chinese law enforcement, we were able to obtain compelling evidence of the criminal origins of the cryptoassets Qian attempted to launder in the UK.
“My thoughts are with the thousands of victims defrauded in this scheme, and I hope today’s outcome acknowledges the harm Qian inflicted and reinforces the Met’s unwavering commitment to justice.”
Jian Wen was also jailed for her role in the criminal operation last year, after investigators proved she had been involved in facilitating the movement of a cryptocurrency wallet, which was valued at £1.7million at the time. She was sentenced to six years and eight months’ imprisonment at Southwark Crown Court on Wednesday, 22 May 2024.
Detective Sergeant Isabella Grotto, who led the Met’s investigation, added: “Today marks the result of years of painstaking work. When our team located Zhimin Qian, she had been evading justice for five years, and her arrest triggered a complex investigation requiring evidence from multiple jurisdictions and the careful review of thousands of documents. I am immensely proud of the investigation team and our partners who have worked tirelessly on this case.
“Today’s plea reflects years of hard work across both the UK and China. We are grateful for the support of the National Crime Agency and the Crown Prosecution Service, and to Chinese law enforcement teams in Tianjin and Beijing with whom we have collaborated throughout.”
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